B4U India: Crest to unveil first animation movie in FY09

Crest to unveil first animation movie in FY09
================================================================================
reuters india on 27 November, 2007 08:07:00
 
MUMBAI (Reuters) - Crest Animation Studios Ltd expects to offer its first
animation movie to large overseas distributors in 2008/09, a top official said
on Monday.
The company, which has so far been creating television content for other
studios and co-producing movies, is now developing its own animation movies.
"We should probably have these on board as pitchable products in the next 6-8
months," A.K. Madhavan, chief executive officer, said.
The move would enable the company to own the intellectual property rights (IPR)
for its content. "We want to graduate to complete ownership after our experience
with co-owning IPRs," he added.
Crest would also begin co-producing DVD content in the next financial year, he
said.
"We are looking more towards high-end DVDs and movies and less of television,"
said Madhavan.
In August 2006, its U.S. subsidiary, RichCrest Animation, had entered into a
co-production and co-financing deal with Lions Gate Entertainment for three
full-length animation films.
In the year to March 2007, the company posted a net profit of 9.6 million
rupees on net sales of 248 million rupees.
Shares in Crest were trading up 2.58 percent at 103.2 rupees in a firm Mumbai
market.